Visa Direct can help you offer money movement solutions to serve your customers while addressing your operational needs
- Treasury Banks Create new revenue opportunities and better serve corporate clients by growing your payments business with the help of Visa Direct. Discover Money Movement for treasury banks
- Retail Banks Help customers connect to billions of endpoints worldwide with P2P experiences that can deliver money to bank accounts and eligible debit cards. ...
- Fintechs ...
- Remittance Providers ...
Full Answer
What is Visa Direct?
1 Visa Direct is a service that facilitates funds transfers by Visa’s client financial institutions. 2 Actual fund availability varies by receiving financial institution, receiving account type, region, and whether transaction is domestic or cross-border. 3 Availability varies by market. ... 4 The Unified API is available on a limited basis. ...
How do I obtain funds from a Visa card?
If the source of funds is a Visa card, you can use the Funds Transfer API to obtain them. The Funds Transfer API does this by submitting an Account Funding Transaction (AFT) into the Visa network.
How do I push funds from one Visa account to another?
The Funds Transfer API includes an operation for pushing funds to a single Visa account (PushFunds) and an operation for pushing funds to multiple Visa accounts simultaneously (MultiPushFunds). These operations on the Funds Transfer API do this by submitting Original Credit Transactions (OCT) into the Visa network.
What is the API for Visa Direct?
This API will convey details of all debits/credits posted to an Originating Entity’s settlement account with Visa for a given processing day. Note: This API is only applicable to Originating Entities availing Visa Direct’s “Accelerated Payment Delivery.”
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What is Visa Direct?
Visa Direct is built on Visa’s vast, secure network, that supports money movement around the world while helping you to meet your risk, compliance, and security needs, and those of your clients.
How many countries can Visa direct payouts reach?
Scale your payments offering and help clients serve new markets with Visa Direct Payouts – enabling them to move money in 160+ countries domestically via card and reach 170+ countries cross-border 1 via card and account rails.
How does a Visa card work with a push payment?
The consumer's issuer then uses the Mobile Push Payment API to submit a push payment transaction into Visa that will transfer the payment amount from the consumer's Visa card to the merchant's Visa card. When the push payment is received by the merchant's issuer (acquirer), the merchant is notified that the amount of the payment has been deposited into their Visa account. When the merchant issuer sends the approved authorization for the push payment back to Visa, the consumer's issuer notifies them via the Mobile Push Payment application that the transaction is complete.
How to submit a pull fund to Visa?
Once you have collected the necessary information from the sender, you can submit a pull funds transaction to Visa using either the PullFunds operation (for a single account) or the MultiPullFunds operation (for multiple accounts simultaneously). In a PullFunds operation, the request message includes the sender account, amount, and applicable point of service data elements for a single account. The PullFunds operation submits a single AFT transaction into Visa for the account specified in the request and returns the response variables for that account. A successful response message will include status information, a Visa-assigned transaction ID, and various approval codes.
What is multi push funds?
In the MultiPushFunds operation, the sender information, recipient information, and transaction amount data elements are repeated in the request message for each account to which funds are to be pushed. The MultiPushFunds operation is most typically used when you have accumulated a “batch” of push funds transactions and it is more convenient to submit them all in a single API call. A maximum of 499 recipient accounts can be included in a single MultiPushFunds request. The MultiPushFunds operation will submit an individual OCT transaction into Visa for each account specified in the request and return a separate response for each one.
How to get funds from a sender on Zoom?
As an Originator, you can obtain funds from the sender using any means available to you, such as by withdrawing funds from the sender’s bank account or by pulling funds from the sender’s Visa card.
What is AFT in Visa?
The Funds Transfer API enables Originators to use an API to withdraw (debit) funds from an eligible Visa card by directly submitting an Account Funding Transaction (AFT) into the Visa network. The AFT is used to pull funds from Visa accounts for the purposes of funding other non-merchant accounts, such as loading or topping up prepaid card accounts, moving funds into another financial account such as a Certificate of Deposit or Individual Retirement Account, acting as the funding source of person-to-person payments, or to load a third-party digital wallet.
How many operations are there in the Funds Transfer API?
The Funds Transfer API contains six operations that all have a similar structure: pull funds from a single Visa account, pull funds from multiple Visa accounts, push funds to a single Visa account, push funds to multiple Visa accounts, return funds to a single Visa account, and return funds to multiple Visa accounts. You can find the technical specifications for each operation on the API Reference tab.
Does Visa Direct have geographic restrictions?
Visa has optional functionality in the Funds Transfer API that allows Originators to configure geographic restrictions within Visa Direct during production onboarding so that they can be automatically enforced by Visa. If you choose this option, Visa will automatically apply your pre-configured geographic rules to every Funds Transfer API request and will block any push funds transaction to a card issued in a country that is restricted based on your configuration rules. Contact [email protected] for more information.
What can an originating entity send to get the latest status from Visa?
The Originating Entity can send the Query API request to get the latest status from Visa by including the Payout ID or other key parameters
How does a visa respond to a destination?
Visa responds back to the Originating Entity with the Destination Amount and the Conversion rate. The Originating Entity can display the destination amount to the sender. This is the amount that will be send to the recipient account.
What is a visa status notification?
Visa will send a Status Notification request to the Originating Entity including the updated transaction status and the updated expected posting date.
How does Visa notify the originator?
Visa notifies the Originating Entity through the Return Payout API, providing all the details of the returned payout. The Originating Entity responds back with a simple response acknowledging that the notification was received.
How does Visa respond to a payout?
Visa responds back to the Originating Entity with the result of the payout, and the estimated posting date (for payouts to bank accounts). In case of payouts to bank accounts, the Originating Entity should assume that the payout will be deposited successfully to the recipient’s account on the estimated date and communicate the status to the relevant end customers.
Does Visa send a payout request to PSP?
If the payout is to a bank account , Visa routes the payout request to the appropriate PSP that can support that payout. The PSP performs all data validations to ensure that the payout can be supported by one of its Network Partners and acknowledges the request back to Visa with an estimated posting date (i.e., date when the recipient will receive the deposit in their bank account)
Does Visa accept PSP cancellation?
Visa routes the payout request to the PSP. The PSP accepts the cancellation request if the transaction has not been sent to the Network Partner.
